RIM Files to Take Over Certicom

RIM announced today that they have commenced the take over of encryption software company Certicom.  Certicom has previous tried to prevent this take over by seeking other offers, with no such luck.  RIM’s take over bid is set at $1.50 CAD for all outstanding common stock shares.  The offer will be open for acceptance until 5:00 p.m. (Toronto time) on January 15, 2009 unless withdrawn or extended by RIM’s subsidiary.

The CAD $1.50 in cash per common share represents a premium of approximately 76.5% over the closing price of Certicom shares on December 2, 2008, being the last day prior to RIM’s public notice of its intention to make the Offer and a premium of approximately 76.1% over the volume weighted average price of the Certicom shares for the 20 trading days prior to December 3, 2008.

The Offer is subject to customary conditions including that at least 66 2/3% of the Certicom shares (on a fully-diluted basis) are validly deposited and not validly withdrawn on the expiry date of the Offer.

Certicom shareholders are urged to read the take-over bid circular and related documents. Questions regarding the Offer and assistance in depositing Certicom shares under the Offer should be directed to Kingsdale Shareholder Services Inc., the Information Agent for the Offer, at 1-800-775-4067.

Copies of the take-over bid circular and related documents may be obtained without charge from CIBC Mellon Trust Company, the Depositary for the Offer, at 1-800-387-0825.

via BlackBerry Cool